77433 ZIP code sees majority of area's growth in 10 years
As Cypress continues to expand along Hwy. 290 and toward the future Grand Parkway, the differences between homes in the eastern and western portions of the community continue to vary, ranging from cost to available land to the amenities offered in communities.
"I think within the next four or five years we'll see quite a different landscape [in Cypress], in a good way," said Jason Gracey, realtor with Re/Max Vintage. "By that time the Grand Parkway will be completed and much of Hwy. 290 will be, too. I think we'll see the additional commercial and retail growth that will come with that."
Newer choices
In the past 10 years, much of the population growth in Cy-Fair has been in the western portion of the area.
The population living within the 77433 ZIP code grew by 1,064 percent and 38,741 people between 2000 and 2010, according to U.S. Census Bureau data. About 30,000 new residents moved to the 77429 ZIP code throughout the decade, bringing the population from 42,383 to 72,264 individuals.
"I think the potential growth out 290 in the future is phenomenal," said Susan Simpson, vice president of sales for Coldwell Banker in Cy-Fair. "There's more land toward Fairfield, and Bridgeland and Towne Lake are nowhere near to being completed."
Citing reasons such as the neighborhood schools, amenities and easy access to Hwy. 290, area realtors have seen a majority of interest in several of Cypress' master-planned communities, most of which are located in the western ZIP codes.
"The trend for planned subdivisions and master-planned communities is that they aim to create lifestyles," said Rob Cook, member and past chairman of the Houston Association of Realtors. "Developers are now realizing the value of creating a place where you don't want to leave—you want to stay at home and enjoy the amenities."
Compared to smaller subdivisions, master-planned communities can afford to build and create amenities on a larger scale, ranging from greenbelts and splash pads to amphitheaters and mixed-use space.
"Those communities that can offer mixed-use areas with living, working and shopping are really what we think will continue to motivate buyers to buy in master-planned communities," said Peter Houghton, vice president of master planned communities for Howard Hughes, which owns Bridgeland. "Most buyers are looking for more than a sea of rooftops; they want entertainment, nice restaurants, shopping and jobs within their communities."
Established neighborhoods
Although the largest population growth in Cy-Fair took place in the western areas during the past decade, every ZIP code in the area increased in population by at least several thousand, according to census data.
While both areas are growing, there are differences between newer and established communities such as price, amenities and prime location, as most already-developed subdivisions give residents easier access to major transportation arteries.
"Older subdivisions are closer in [to the city center], and they're more established with full, mature trees," Cook said. "Norchester was built in the 1970s, but it has enjoyed good appreciation and close access to 290."
The average home price in the Cy-Fair area is about $174,000, Cook said, but it can vary between communities, based upon factors such as amenities, lot size, age and square footage. For example, the median home value in Norchester—located within the 77070 ZIP code—is about $145,000, while it is nearly $172,000 in Lakewood Forest, according to the Houston Association of Realtors.
Residents who live in established communities like Lakewood Forest, also located in the 77070 ZIP code, have amenities such as a neighborhood pool, playground, tennis courts and volleyball courts and fishing access on a stocked lake, while Norchester offers access to a garden club, community pool, trails and club house.
